An interesting 2 days at Sustainability LIVE with sessions on the sustainability challenges that companies face, not only on issues such as #climate, #genderequality and #humanrights but also with regards to #reporting, compliance with #CSRD and #CSDDD, and #stakeholderengagement.
It was great to hear about:
- The importance of #stakeholderengagement, with all stakeholders, not just investors and shareholders. There is a need to engage with suppliers early and meaningfully, as James Gowen stressed. Scope 1 and 2 emissions are under your control. but scope 3 need active engagement, education and support to #suppliers.
- The need to view #reporting as an investment into the future and use it to communicate authentically with stakeholders. This includes being transparent about the targets that were missed, the mistakes that were made and the learnings, in the words of Michelle Norman.
My personal favourites:
- The preview of the 2024 #Deloitte CxO sustainability report by Smruti Naik-Jones. This revealed that 85% of executives have increased sustainability investments but only 45% are transforming their business model and strategy to address #climate change.
- The session on #human rights and #CSDDD and Louise Herring highlighting that although it's good to promote the sustainability business case, sometimes business leaders need a crisis to be mobilised.
- The session on #female #leadership and the need for male allies to break the unconscious bias, but also that this is a constant fight, building on the fights of those women who came before, as Andrea Debbane mentioned.
- The final session by Ashley Lester, not because he is a fellow research geek, but because he reminded us that business with good #ESG ratings, are business with good governance that address the sustainability challenges they face.
Irrespective of the press about ESG funds and the political debate in the US, investors look at how companies manage their risks, and good ESG risk management is good risk management.